Pharvaris (NASDAQ:PHVS) Trading Down 3.2% - Here's What Happened

Pharvaris (NASDAQ:PHVS - Get Free Report)'s share price dropped 3.2% on Wednesday . The stock traded as low as $15.94 and last traded at $15.97. Approximately 29,290 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 70,377 shares. The stock had previously closed at $16.50.

Wall Street Analysts Forecast Growth

Separately, JMP Securities increased their price target on Pharvaris from $46.00 to $55.00 and gave the stock a "market outperform" rating in a research report on Friday, January 31st.

Pharvaris Stock Down 0.4 %

The firm has a market cap of $805.27 million, a price-to-earnings ratio of -5.50 and a beta of -3.02. The company's 50-day moving average price is $16.87 and its 200-day moving average price is $19.06.

Institutional Investors Weigh In On Pharvaris

Several institutional investors have recently bought and sold shares of PHVS. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Pharvaris by 30.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,734 shares of the company's stock valued at $1,222,000 after acquiring an additional 14,838 shares in the last quarter. Woodline Partners LP acquired a new position in Pharvaris in the 4th quarter valued at $853,000. Soleus Capital Management L.P. lifted its holdings in Pharvaris by 36.2% in the 4th quarter. Soleus Capital Management L.P. now owns 814,652 shares of the company's stock valued at $15,617,000 after purchasing an additional 216,483 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Pharvaris during the 4th quarter worth $152,000. Finally, Octagon Capital Advisors LP grew its holdings in shares of Pharvaris by 25.4% during the fourth quarter. Octagon Capital Advisors LP now owns 778,000 shares of the company's stock worth $14,914,000 after buying an additional 157,530 shares in the last quarter.

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Pharvaris Company Profile

Pharvaris N.V., a clinical-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases. The company develops PHA121, a small molecule bradykinin B2-receptor antagonist for the treatment of hereditary angioedema (HAE). It also develops PHVS416, an on-demand, rapid exposure soft capsule for patients suffering from acute HAE attacks which is under Phase 2 clinical trial; and PHVS719, a prophylactic extended-release tablet for HAE patients which is under Phase 1 clinical trial.